JPM · 10-Q · 2026Q2 · Full report
Asset & Wealth Management Growth
JPMORGAN CHASE & CO · 2026-08-06 · Importance 58 · Surprise 40 · No source text
AWM managed net revenue increased 19% year over year to $6.9 billion in the second quarter and 15% to $13.2 billion in the first half of 2026. Asset Management revenue rose 23% to $3.3 billion in the quarter and 19% to $6.4 billion year to date, driven by higher average market levels, strong net inflows and higher investment valuation gains. Global Private Bank revenue increased 16% to $3.5 billion in the quarter and 12% to $6.8 billion year to date, supported by higher management fees, brokerage commissions and average loans, partly offset by narrower loan spreads. AWM noninterest expense rose 13% to $4.2 billion in the quarter and 12% to $8.4 billion in the first half, primarily from revenue-related compensation, private banking advisor growth and higher distribution fees.
Key facts
- Assets under management were $5.1 trillion, up 18%. source
- Client assets were $7.7 trillion, up 19%. source
- Custody/brokerage/administration/deposits were $2,523 billion as of June 30 (compared with $2,078 billion). source
- Assets under management for Private Banking were $1,559 billion as of June 30 (compared with $1,270 billion). source
- AWM: Return on equity (ROE) for AWM in Q2 2026: 48%; Assets under management (AUM) of $5.1 trillion, up 18% source
- Total assets under management were $5,140 billion as of June 30, 2026 (compared with $4,343 billion). source
- Assets under management for Global Institutional were $2,079 billion as of June 30 (compared with $1,772 billion). source
- Assets under management for Global Funds were $1,502 billion as of June 30 (compared with $1,301 billion). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +1.5% | Asset management fees were $5,658 million for the three months ended June 30, 2026 and $4,806 million for the three months ended June 30,… |
| net_income | positive | realized | +0.8% | AWM net income for the three months ended June 30, 2026: $1,957 million, up 33% year-over-year. |
| revenue | positive | realized | — | Asset & Wealth Management total net revenue for the three months ended June 30, 2026: $6,851 million. |
| revenue | positive | realized | — | Beginning balance of assets under management for the three months ended June 30 was $4,789 billion and ending balance was $5,140 billion. |